A stand-off between regional broadcaster WIN Corporation and Nine Entertainment Co has come to a ceasefire, less than a day before WIN was due to be switched off.
The Sydney Morning Herald today reported Nine Entertainment Co was threatening to turn WIN black at midnight if a funding renegotiation was not reached.
WIN described itself as the nation's largest privately owned regional television network. It had a 27-year deal with Nine to exchange content -- including live cricket -- in exchange for 39 per cent of its advertising revenue.
However, the deal was called into question after Nine reportedly wanted to increase its share by 10 percent.
The broadcasters on Thursday released a statement announcing they had extended this affiliation agreement for six months to June 30 "on terms that provide for additional payments to Nine over that period".
The statement also said the broadcasters "agreed to work together on a range of opportunities relating to their content and to the mutual growth of their respective businesses".
Nine chief executive Hugh Marks said free, quality content was as important as ever in a changing media landscape.
“Broadcast television is evolving, but the role of the affiliate and its relationship with the local community remains important," Marks said.
"This extended deal with WIN ensures Nine’s premium content continues to be available to all Australians for free, 24 hours a day.”Suggest a correction